Record price: Greenway townhouse sells for $1.22 million

A record price of $1,220,000 has been achieved for a luxurious waterfront townhouse at 6/1 Bibb Place in Greenway, which was sold privately during the week through Ilia Mangos of Edge Quality Property.

Mangos said over 80 people attended the three inspections with the beautifully presented family home attracting 11 offers in total.

“It was a brilliant result for the area with the modern home on the market for just 18 days before it sold to a couple who were downsizing.

“Homes in Greenway are typically on the market for an average of 57 days,” he said.

Mangos said they had been accepting offers in excess of $1,100,000.

“The owner made great efforts to present the home to the highest possible standards and it paid off,” he added.

Set on a 493-square-metre block, the modern four-bedroom townhouse offers two expansive living areas, a renovated and fully-equipped kitchen with stone benchtops, two updated designer bathrooms, polished timber floorboards, landscaped pergola area and water views.

Located near the Tuggeranong town centre, the property last sold in 2014 for $687,000 effectively doubling its value in less than 10 years.

It is part of a multi-unit lifestyle development with the parcel of land originally purchased in 2001 for $1,650,000. According to Domain, the last property to sell in the boutique development was unit 2 which sold for $980,000 in February, 2022 providing an annual growth rate of 4.22 per cent over 10 years.

Greenway is a relatively affordable suburb with Domain showing the median price for a unit was $541,450 in the June quarter of 2023, up 9.5 per cent on the previous 12 months. House prices in Greenway were down by 30.1 per cent over the same period recording a median house price of $538,450.

According to the Domain House Price Report, Canberra’s median house price for the June quarter was $1,034,057, unchanged from the previous quarter.